Business Standard

Singapore Sep manufacturing jumps 24.2% year-on-year, biggest gain in 9 yrs

Singapore's industrial output beat forecasts to rise 24.2% year-on-year in September, its fastest pace in nine years, boosted by pharmaceutical manufacturing more than doubling during the month

An employee checks readings at a laboratory in a pharmaceutical manufacturing factory in Singapore. Photo: Reuters

An employee checks readings at a laboratory in a pharmaceutical manufacturing factory in Singapore. Photo: Reuters

Reuters SINGAPORE
SINGAPORE (Reuters) - Singapore's industrial output beat forecasts to rise 24.2% year-on-year in September, its fastest pace in nine years, boosted by pharmaceutical manufacturing more than doubling during the month, official data showed on Monday.
Economists had expected a 2.5% increase, according to the median of their forecasts in a Reuters poll. The rise was the biggest since December 2011.
On a month-on-month and seasonally adjusted basis, industrial production increased 10.1% in September, data from the Singapore Economic Development Board showed. Economists had expected a 7.8% decline.
Pharmaceutical output grew 113.6% on year with higher output of active pharmaceutical ingredients and biological products. Electronics output grew 30.1% led by the semiconductors segment.
 
(Reporting by Chen Lin and Aradhana Aravindan; Editing by Rashmi Aich)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 26 2020 | 11:35 AM IST

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